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SF63 (Legislative Session 94 (2025-2026))

Plymouth tax increment financing special rules authorization

Related bill: HF512

AI Generated Summary

Purpose

This bill would give the City of Plymouth special rules for using Tax Increment Financing (TIF). It allows Plymouth to create up to two redevelopment districts inside the city, limited to the city center area shown on Plymouth’s zoning map as of January 1, 2024. The changes are designed to make it easier for Plymouth to use TIF for redevelopment projects in that area.

Main Provisions

  • Limited districts: Plymouth may establish no more than two redevelopment districts, located entirely within the City of Plymouth, in the city center district shown on Plymouth’s zoning map.
  • Special rules for these districts: If a TIF district is created under this section, the district:
    • is considered to meet the requirements of Minnesota Statutes 469.174, subdivision 10;
    • is exempt from Minnesota Statutes 469.176, subdivision 4j (meaning that provision does not apply to Plymouth’s districts);
    • has the five-year period (normally under 469.1763, subdivision 3) extended to ten years; and
    • has the use of tax increment after the expiration of the five-year period extended to 11 years.
  • Time limit: The authority to approve a TIF plan under this section expires on December 31, 2031.

Significant Changes to Existing Law

  • Creates Plymouth-specific TIF rules that override some standard statewide TIF requirements (notably 469.174 and 469.176 rules).
  • Extends the usual timeframes for TIF (ten-year initial period and an eleven-year window to use increment after that period).
  • Restricts districts to be within Plymouth’s city center zoning area and limits the number of districts to two.
  • Sets a firm expiration date for this authority (December 31, 2031).

Expiration and Scope

  • The changes apply only to the City of Plymouth and its designated city center district.
  • The authorization to approve TIF plans under this section ends in 2031.

Terminology Included

  • Tax Increment Financing (TIF)
  • redevelopment district / redevelopment districts
  • city center district
  • zoning map
  • Minnesota Statutes 469.174, 469.176, 469.1763
  • increment (tax increment)
  • special rules (for Plymouth)
  • expiration date (December 31, 2031)

Relevant Terms - Tax Increment Financing (TIF) - redevelopment districts - City of Plymouth - Hennepin County - city center district - zoning map (Plymouth Zoning Map) - Minnesota Statutes 469.174; 469.176; 469.1763 - increment / tax increment - expiration: December 31, 2031 - 469.174, 469.176, 469.1763, subdivision numbers (sub 10, sub 4j, etc.)

Bill text versions

Actions

DateChamberWhereTypeNameCommittee Name
January 16, 2025SenateActionIntroduction and first reading
January 16, 2025SenateActionReferred toTaxes
January 30, 2025SenateActionAuthor added
SenateActionSee

Citations

 
[
  {
    "analysis": {
      "added": [],
      "removed": [],
      "summary": "References Minnesota Statutes section 469.174 subdivision 10 in relation to Plymouth's tax increment financing district.",
      "modified": []
    },
    "citation": "469.174",
    "subdivision": "subdivision 10"
  },
  {
    "analysis": {
      "added": [],
      "removed": [],
      "summary": "References Minnesota Statutes section 469.176 subdivision 4j and notes it does not apply to the Plymouth district.",
      "modified": []
    },
    "citation": "469.176",
    "subdivision": "subdivision 4j"
  },
  {
    "analysis": {
      "added": [],
      "removed": [],
      "summary": "References Minnesota Statutes section 469.1763 subdivision 3, extending the five-year period to ten years for the Plymouth TIF district.",
      "modified": []
    },
    "citation": "469.1763",
    "subdivision": "subdivision 3"
  },
  {
    "analysis": {
      "added": [],
      "removed": [],
      "summary": "References Minnesota Statutes section 469.1763 subdivision 1, extending the use of the increment to 11 years for the Plymouth TIF district.",
      "modified": []
    },
    "citation": "469.1763",
    "subdivision": "subdivision 1"
  },
  {
    "analysis": {
      "added": [],
      "removed": [],
      "summary": "References Minnesota Statutes section 469.1763 subdivision 4, relating to the use of increment, extended to 11 years for the Plymouth TIF district.",
      "modified": []
    },
    "citation": "469.1763",
    "subdivision": "subdivision 4"
  }
]

Progress through the legislative process

17%
In Committee

Sponsors

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